New York, NY - Kinderhook Industries, LLC
(“Kinderhook”) announced today the acquisition of IDQ
Acquisition Corp (“IDQ”), a leader in the automotive
aftermarket, from Castle Harlan, Inc. IDQ is Kinderhook’s
sixth platform investment in the automotive aftermarket and
seventeenth purchase in the space, including add-on
acquisitions.

Headquartered in Garland, TX, IDQ is the leading provider of
high-quality and easy-to-use air conditioning (“A/C”)
maintenance and repair solutions for the do-it-yourself
(“DIY”) automotive aftermarket in North America. The Company
focuses on value-added products that not only stop leaks but
also restore and ensure maximum A/C system performance
through a combination of refrigerants, chemical additives
and innovative delivery mechanisms.

“We are excited about our new partnership with Kinderhook
that will enable IDQ to continue to grow and expand consumer
awareness of our market-leading solutions,” said Michael
Klein, CEO of IDQ. “IDQ’s unique value-added products offer
consumers tremendous value compared to the alternative of
having a mechanic perform the recharge. A/C PRO, our
premium, “all-in-one” recharge kit helps consumers achieve
professional-level results at a fraction of the cost and
time of having a mechanic do it. The Kinderhook team shares
our strategic vision of growing IDQ through branding and
increased consumer awareness of our products, especially
IDQ’s flagship product: A/C PRO.”

Chris Michalik, Managing Director at Kinderhook Industries,
stated that, “IDQ has become the leading automotive
aftermarket A/C solutions provider because of the company’s
dedication to product innovation and customer support. IDQ
offers customers an unmatched value proposition in the A/C
recharge category. IDQ was the first company to launch an
“all-in-one” recharge kit and over the past decade, it has
continued to add new features and functionality as a result
of direct customer and consumer feedback. The acquisition of
IDQ aligns perfectly with Kinderhook’s investment strategy
of partnering with world-class management teams to buy
companies who are leaders in their respective niches.”

“IDQ has had extraordinary growth due to its product
innovation, loyal customer base, market-leading service and
exceptional management team led by Michael Klein and Gerry
Rooney. This management team brings best-in-class leadership
and relationships to the table and we are excited to partner
with them,” said Tom Tuttle, Managing Director at Kinderhook
Industries. “Kinderhook has developed an expertise in the
automotive aftermarket and we are excited at the opportunity
to invest in an innovative market leader like IDQ.”

About Kinderhook Industries
Founded in 2003, Kinderhook Industries is a private equity
firm with $770 million of committed capital and an
investment philosophy based on combining senior management
and operating experience in a variety of industries with the
financial and investment know-how of private equity
professionals. Kinderhook primarily makes control
investments in companies in which the firm can achieve
significant financial, operational and growth improvements.
The firm targets orphaned non-core subsidiaries of corporate
parents, existing small capitalization public companies
lacking institutional support and management-led
recapitalizations of entrepreneur-owned companies. By
providing access to capital, strategic advice and an
extensive network of relationships, Kinderhook Industries
has a history of successfully building privately held firms
in partnership with management. For more information please visit:
www.kinderhook.com .

About IDQ
IDQ Holdings is the leading manufacturer of automotive A/C
products for the “do-it-yourselfer” and professional service
technician. IDQ offers a broad product line that includes
value-added R-134a refrigerants to A/C tools and
accessories, from one-step recharging and stop leak products
to leak detection and lubricants. For more information
please visit: www.idqusa.com
and www.acprocold.com